Sure, agreed.
> And the experience is equally mediocre.
Absolutely not. I regret using a taxi nearly every time I opt for the cheaper option. It's only the "better" choice if you happen to be standing right in front of one. This experience is nearly universal no matter where I travel.
I think people really forget how utterly terrible Taxis were pre-Uber. I have no idea about competing apps these days, maybe they are similar to Uber, but the typical Taxi experience is nearly as awful as it's always been at least in the US.
Uber/Lyft certainly has gotten worse - but at least I can fairly reliably get a car when I need it with reasonable reliability. The rest of the "soft" product or pricing I really care far, far, less about than that simple fact.